Canara Bank hikes lending rate by 50 bps

Written by Reuters | Mumbai, June 30: | Updated: Jun 30 2008, 14:21pm hrs
State-run Canara Bank has raised its benchmark prime lending rate by 50 basis points to 13.25 percent with effect from Tuesday, it said in a statement.

However, the interest rates on automobile loans and home loans have been left untouched, it said late on Friday.

Last week, other banks such as the country's largest lender State Bank of India, Union Bank of India, Punjab National Bank and Corporation Bank have raised their respective prime lending rates.